Selling a property is easy, right?

Published on: Oct 21, 2020

Selling a property is easy, right?

If you’ve been through the procedure before, you know how complex it can be... 

But if this is your first time marketing a property, it could be far from what you expect. 

That’s because some people think it will be as easy as buying or selling a couch online, while others are victims of misinformation designed to frighten you out of the Real Estate industry.

A few years ago, a “study” in the UK found buying or selling a property topped the list of stressful experiences in the current life. But the survey was commissioned by a UK company working in the industry and trying to sell their message. 

To make matters worse, it continues to be quoted by companies and individuals who read no further than the headline. For educational purposes, however, let’s look at what the survey listed as the top 10 stressful experiences in modern life:

1. Buying or selling a property
2. Relationship break up/divorce
3. Being made redundant
4. Death of a grandparent
5. Getting the sack
6. Being in debt
7. Starting a new job
8. Becoming a parent for the first time
9. Planning a wedding
10. Going broke/bankrupt

To get those kinds of answers, you would have to have a pretty loaded bunch of questions targeted toward getting the answers you want in that order. Interestingly, the second list promoted from the survey is the factors that made the process stressful, where “the survey” came in at number 6 and “none/nothing was stressful“ came in at number 14 (presumably, some people were more stressed about having nothing to stress about than the factors listed from 15 to 20). Read into that what you will. But, again, for educational purposes, let’s look at their top 20 stressful factors:

1. Slow solicitors
2. The risk of it falling through
3. The enormous sums of money that are at stake
4. All the documentation to complete
5. Endless phone calls
6. The survey
7. Difficult vendors
8. Difficult estate agents
9. Being gazumped at the last minute
10. the disruption it causes to your working day
11. Communication problems
12. Difficulty with estate agents
13. Mortgage lenders incompetence
14. None/nothing was stressful
15. Local searches
16. Bank/finance problems
17. Land registry problems
18. Lost documents
19. Postal delays

20. Difficult buyers

The truth is, and most people who have been through the process would attest, buying and selling property is not that difficult. In fact, with the right agent, it can be a fun and compelling business.

So why have we quoted the study at all? Without wanting to give the study legitimacy, the list of complaints does provide a framework for how to get the process right. By selecting a property management agency, knowledgeable about the property, and researching what they are talking about, you can eradicate many of the problems. And by choosing an agent that you feel comfortable with and have good communication with, you have the rest of the matters covered.

A right agent takes the step to avoid problems, identifies them early when they do arise, and comes to you with the solution. When a real estate agency has been around for a long time, it has seen most ways that deals can come unstuck or delayed, and they have tried and proved solutions.

By talking with the agent, you can find out which solicitors are likely to make the process smooth and understand your timelines. You can examine how the communication process will function, ensuring you are kept in the loop as much as you want to be. This leads you to identify potential obstacles and how the appropriate actions will eliminate these obstacles. 

Selling your property is still a reasonably elaborate exercise, so there’s plenty of places where problems can occur. So don’t think for a minute that it will be a walk in the park. But it can still be an exciting time and, yes, even a little fun.

For tips on finding the right team to assist you, contact us on 07 4946 2000.